Trust Account

Are you looking for a deposit account with high confidentiality, flexibility and a great interest rate? Then we have the right solution for you. The HSBC Trust Account is a notice account based on the concept of a Trust. Through this account you may benefit from very attractive features.

What are the main features of the HSBC Trust Account?

• The account is opened directly in the name of HSBC Bank Malta p.l.c. Trustee.
  
• You may deposit additional funds whenever you wish.
  
• Withdrawals are permitted (subject to a 90 day notice).
  
• Account may be opened in any major currency with a minimum equivalent to €11,500

What are the benefits of opening an HSBC Trust Account?

• Choice of length of deposit
  You may choose to withdraw partial sums or top-up the balance without upsetting the account or losing any credit interest.
  
• High level of confidentiality
  Details of the account are kept highly confidential since the account will be opened in the name of the Trustee who is HSBC Bank Malta p.l.c.
  
• Substitute for a will
  The account may serve as a substitute for a will, since on your death, the balance will be handed out to the beneficiaries that you nominate.
  
• Can be designated for minors
  Since this account is a ‘Trust’ Account, it can be designated for a minor. The account will immediately form part of the minor’s estate.
  
• Allows changes to beneficiaries
  You may change the designated beneficiaries any time during your lifetime.
  
• Accessible even in the event of disability
  The funds from the account may be used for your benefit or that of the beneficiary without the need for a court order or consent from anyone else.

What is the credit interest rate on the account?

The account attracts a rate of 0.25% below the bank’s base rate*. The interest is credited to the account at the end of each quarter.

Are there any fees/charges related to this account?

There is an annual trustee fee of only 0.25% on the account balance. (Minimum €30.28 p.a.)

What about taxation?

The account is subject to a final withholding tax of 15% on interest earned.

I’m interested. What is the next step?

To enjoy the benefits of the HSBC Trust Account visit any one of our branches today. All you need to do is fill in a simple application form to apply for this account. For more details you may phone our Trust Helpline on 2380 8888.

*Kindly contact Customer Service on 2380 8888 for the latest base rate.